By starting a collection agency business, what kind of taxes may be required?
2007-06-05 21:59:28 · 3 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
Depends on what form you organize the business under, but if you have employees in it, you'll have to pay payroll taxes (Federal, State), and you'll either have corporate taxes to pay if the business runs a profit, or the income from the business will flow through to you and you will have to pay taxes on (both regular tax, and possibly self-employment tax).
2007-06-06 01:50:21 · answer #1 · answered by Anonymous · 1⤊ 0⤋
same as every other - although collection agencies think they are special they are not. What a horrible business to want to go into (if you dont mind me saying!!!)
2007-06-06 11:08:30 · answer #2 · answered by brien123 4 · 0⤊ 0⤋
Same as any other business. Income and payroll taxes for the most part.
2007-06-06 05:26:34 · answer #3 · answered by Bostonian In MO 7 · 0⤊ 1⤋